Deal signed with GE to build 3,600MW power plant

Business Desk

Bangladesh Power Development Board has signed a deal with General Electric to build a 3,600MW LNG-based power plant on the southeastern island of Moheshkhali. The Switzerland unit of GE will own 30 percent of the joint venture, while BPDB will hold 51 percent with the remaining 19 percent left for a future strategic investor.

The development of 5,600-acre land is estimated to cost $1.6 billion and the power plant will cost $2.8 billion, according to details of the memorandum of understanding signed in Dhaka on Wednesday. BPDB Chairman Khaled Mahmood and GE Power President and CEO Russell Stokes signed the MoU.